topic Re: Should I dispute? in General Credit Topics

Should I dispute?

anewme35 — Fri, 28 Jun 2013 21:00:52 GMT

I am working to rebuild my credit. I have 4 baddies.

1 - BOA (short sale) I stopped paying the mortgage a year before I completed a short sale in 2010.

2a-c All from the same collector Alpine Credit 3 different medical bills from me getting sick/hospitalized and just lazy and not keeping up with all the bills after being hospitalized. My DOFD is 2/2010. All bills were under $100 each (Stupid on my part I know) I PIF all 3 11/2010

At the time that I paid in full I wasn't aware of this site and didn't realize that I had a bit of leverage since I was paying and should have asked that if I PIF they remove it completely from my report. Now its on my report and as PIF.

Here's my dilemma, I received a letter from Equifax saying in the last 12 months that something negative has shown up on my report. When I pull my report the 4 baddies are listed as negative contributes. the BOA baddie looks as expected. BUT the 3 collection accounts show a report date of 6/2013. Why is this? Is there any significance to the date reported field and should I take any action?

Thanks in advance for you response. This community has been nothing short of a wealth of information, great feedback and guidance.

Re: Should I dispute?

Anonymous — Fri, 28 Jun 2013 21:13:50 GMT

That date is just the date the collection agencies reported to the CRAs and has nothing to do with the account itself.

Re: Should I dispute?

anewme35 — Fri, 28 Jun 2013 21:19:02 GMT

Does that date, update yearly? Because those Collection baddies were on both my 2011 and 2012 reports. Does that date have any bearing on my score? And finally is it true that beingh 3 years removed from the DOFD that those baddies will have less influence on my credit score?

Re: Should I dispute?

Anonymous — Fri, 28 Jun 2013 21:40:04 GMT

My mistake. Date opened is the date the acquired the debt.

Date reported is when it was last updated. If they only update once a year it could impact your score by bringing the date current. Did you notice a drop in score?

Collections are major derogatories and will impact your score for 7 years. They do lose some impact over time.

Re: Should I dispute?

anewme35 — Fri, 28 Jun 2013 22:35:09 GMT

Thanks for the feedback. So is it legal to update it every year? Is this normal behavior for a paid collection account?

Re: Should I dispute?

Anonymous — Fri, 28 Jun 2013 23:01:00 GMT

From what I know, they shouldn't report paid and closed accounts after 3 months. It isn't illegal for them to do it, just shouldn't.

It is odd that a CA would only report yearly though.

At any rate it is paid. Send them a good will letter asking if they will remove the account from your CR.